10 Companies Making Massive Donations to Political Campaigns

Shutterstock / Shutterstock

Shutterstock / Shutterstock

Following the new controversial voting law in Georgia and the slew of companies — from Delta to Coca Cola– voicing their disapproval, Republican leader Mitch McConnell told companies to “stay out of politics.”

“Our private sector must stop taking cues from the Outrage-Industrial Complex. Americans do not need or want big business to amplify disinformation or react to every manufactured controversy with frantic left-wing signaling,” he said in a statement.

However, McConnell was quickly reminded about the Citizens United vs. Federal Electoral Commission case, which he supported in 2010, that enables corporations and other outside groups to spend unlimited funds on elections. The argument is being made both ways.

Here’s a look at 10 companies — and the people behind them — that made some of the biggest political donations during the 2020 election cycle.

Check Out: 5 Politicians Bankrolled by Huge Companies

©Paul Sakuma/AP/REX/Shutterstock

Oracle (Larry Ellison)

Ellison, Oracle’s co-founder and chairman, donated $7.2 million to conservative PACs, including to the Opportunity Matters Fund super PAC, the Security is Strength PAC, which supported Lindsey Graham’s campaign, and the Better Future Michigan Fund PAC, which supported John James’s campaign.

See: Billionaires vs. the Rest of Us — How Did Finances Change Due to COVID-19

Make Your Money Work Better for You

World Wrestling Entertainment (Vince & Linda McMahon)

The McMahons donated $17.5 million to conservative PACs. They include the Iowa Values Action PAC, which supported Joni Ernst, America First Action, which supported Donald Trump, and the Security is Strength PAC, which supported Lindsey Graham.

Check Out: Popular Companies Set to Make a Comeback in 2021

360b / Shutterstock.com

Marvel Entertainment (Laura Perlmutter)

Perlmutter gave $22.4 million to conservative PACs, including the Security is Strength PAC, which supported Lindsey Graham, the Valor Project super PAC and the Miles of Greatness Fund super PAC, which supported Ronny Jackson.

Related: Google Halts Donations to Republicans Who Voted Against Election Results

Cindy Ord / Getty Images

Renaissance Technologies/Simons Foundation (James Simons)

James Simons, founder of the Renaissance Technologies hedge fund, which has $60 million in assets under management, donated $24.5 to million liberal PACs, including the Priorities USA Action PAC, the Strategic Victory Fund Super PAC and the Senate Majority PAC.

Find: Hedging Your Bet? Everything You Need to Know About Hedge Funds

Make Your Money Work Better for You
©Blackstone Group

The Blackstone Group (Stephen Schwarzman)

Schwarzman, chairman and CEO of private equity firm The Blackstone Group, donated $33.5 million to several conservative PACs and Super PACs. They include the 1820 PAC, the Senate Leadership Fund and America First Action.

Explore: 150 CEOs from Goldman Sachs, BlackRock and More Urge Congress to Approve $1.9 Trillion Stimulus

Pedro Fiuza/Sipa/Shutterstock / Pedro Fiuza/Sipa/Shutterstock

Asana (Cari Tuna and Dustin Moskovitz)

Asana was founded by former Facebookers Dustin Moskovitz and Justin Rosenstein. Moskovitz and his wife, Cari Tuna, gave $49.5 million to liberal PACs, including Future Forward USA, MoveOn.org, Real Justice PAC and the Senate Majority PAC.

Learn: Where Top Tech Billionaires Donated for the 2020 Election

Larry Busacca / Getty Images

Citadel (Kenneth Griffin)

Griffin, the founder and CEO of hedge fund Citadel, which has $38 billion in assets under management, gave $66 million to several conservative PACs and super PACs, according to OpenSecrets.org.

PACs receiving the donations include the National Victory Action Fund, the Georgia Action Fund, the Better Future Michigan Fund and the Congressional Leadership Fund.

Find: Corporate America Hits Republicans Who Opposed Election Certification Right Where It Hurts — in the PAC

Make Your Money Work Better for You
Andrew Harnik/AP / Shutterstock.com

NextGen (Thomas Steyer)

NextGen, which was “created to build the grassroots power in key states and districts to elect pro-climate Democrats into office,” by Tom Steyer, gave $69 million to various PACs, including the Working Families Party PAC, the Black PAC and the Black Economic Alliance PAC, according to OpenSecrets.org.

Discover: With Record-Setting Spending in 2020, Which Candidate Raised the Most in Your County?

Eric Risberg/AP / Shutterstock.com

Bloomberg L.P. (Michael Bloomberg)

Bloomberg gave $152 million to various Democratic PACs, including the Independence USA PAC, the Black PAC, the Somos PAC and the Women Vote Super PAC, according to OpenSecrets.org.

A Look Back: Bloomberg and 7 Millionaires Going on an Election Spending Blitz

Patrick Semansky/AP/Shutterstock / Patrick Semansky/AP/Shutterstock

Las Vegas Sands/Adelson Drug Clinic (Sheldon and Miriam Adelson)

Las Vegas Sands CEO Sheldon Adelson, who died in January, and his wife Miriam Adelson, set a new record for donations from individuals in a single election cycle, giving $215.1 million. The Adelsons almost singlehandedly funded Preserve America PAC, the newest pro-Trump super PAC, according to OpenSecrets.org.

More from GOBankingRates